At a Glance Q3 2022

Office market Hamburg

Büromarkt Hamburg


At the end of September 2022, the Hamburg office market recorded an above-average take-up of 445,000 m². Therefore after just nine months, the full-year result for 2021 has almost been achieved. The current result represents an increase of 29% on the same period last year, and the 10-year average has been exceeded by 19%. On top of that the take-up volume is nearly on par with 2017 (446,000 m²). So consequently the latest result is at the top level of the past 20 years. After a brilliant second quarter with 188,000 m² of take-up, a further 143,000 m² were registered in Q3. The decline in the quarterly comparison results due to a reduced completion activity in the medium size classes between 1,000 m² and 10,000 m². In contrast, the volume of letting under 1,000 m² increased by 21% as well as lettings of over 10,000 m², which rose by 30%. The latter result is solely based on the Dataport AöR contract (around 40,000 m²).

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